DALLAS — Increased interest rates were the primary factor in pushing first-quarter auto affordability down to a more than two-year low, according to Comerica Bank, which released its most recent Auto Affordability Index today. Specifically, it required 23.4 weeks of median family income to buy and finance an average-priced new vehicle, compared with 23.1 weeks, the revised […] [Read More]

GARDEN CITY, N.J. — Chase Auto Finance has pitched in for the Haiti relief efforts, providing  a 2004 GMC Sierra 1500 SLE for the "100 Trucks for Haiti" campaign that will be used to help dole out food, water and medicine in Port Au Prince as well as other areas of the earthquake-stricken nation. "Chase and […] [Read More]

ESCONDIDO, Calif. — Premier Recovery Service received a repossession assignment earlier this year and immediately went to work on tracking down the collateral near where the contract originated in San Diego. Searching for the debtor through Facebook revealed the vehicle wasn't anywhere near the agent's home base or even in southern California. Premier Recovery Service owner […] [Read More]

REDWOOD CITY, Calif. — OPENLANE executives recently shared their delight about record-setting success of online remarketing initiatives involving repossessions. The company highlighted that year-over-year growth soared to near 500 percent during the first quarter of 2010. "Having recently launched a number of new partnerships and programs, OPENLANE now provides finance companies and recovery agents with the […] [Read More]

CARMEL, Ind. — ADESA Indianapolis is helping to support the Juvenile Diabetes Research Foundation International through the first annual Car-Truck-Bike show it is hosting later this week. The fundraiser will run from 12 p.m. to 4 p.m. (EST) on Saturday at the auction, which is located on 2950 East Main Street in Plainfield, Ind. "This is […] [Read More]

ATLANTA — Amid widespread wholesale gains, the Manheim Used Vehicle Value Index in April hit a record level for the second consecutive time and showed an increase for the fifth straight month. Specifically, the index was 120.7 in April, compared to the previous high of 119.9 set in March. April's index was also 13.2 percent stronger […] [Read More]

IRVINE, Calif. — Kelley Blue Book rolled out a new Certified Pre-Owned Vehicle Value late last week to its lineup of values as well as a devoted CPO section on Kbb.com. The goal of the CPO Value program is to show shoppers the benefits of buying certified as well as to demonstrate the premium costs involved […] [Read More]

YONKERS, N.Y. — In some good news for the automaker, Consumer Reports has removed its "Don't Buy: Safety Risk" tag it placed on the 2010 Lexus GX 460 last month when it found the SUV had potential roll-over issues. Consumer Reports said the recall work fixed the issue. After the publication announced the "Don't Buy" label, […] [Read More]

CARMEL, Ind. — A new general manager for ADESA Houston was announced on Friday. The new executive took over the position immediately. Shifting over to the role from ADESA Dallas is Mark Lindenmuth. The company mentioned that Lindenmuth joined ADESA Dallas in 2008 as sales manager where he was responsible for overseeing the auction sales process for banks […] [Read More]

TORRANCE, Calif. — Last week, Honda highlighted 35 years of research and development that began in southern California at Honda R&D Americas by emphasizing how much of its vehicle lineup is created in the United States. The automaker shared that seven of 21 Honda and Acura units from the 2010 model-year that are sold in the […] [Read More]